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So what: For the quarter, Lamar reported a 4.3% increase in revenue to $266.3 million but noted a substantially wider-than-expected loss of $0.25 per share to repay roughly $30 million worth of debt due in 2015. Even worse, Lamar forecast that its second-quarter revenue would come in around $303 million, which was slightly shy of Wall Street's forecast for $305.1 million.

Now what: This really isn't anything new for Lamar, which has been trading at an astronomical valuation, in my eyes, for years. Lamar has lost money in two of the past three years and is currently valued at 52 times forward earnings. This is the reason I highlighted the company as a stock worth selling back in February 2011. Time hasn't been kind to this company, and I still feel it represents a poor investment.

Craving more input? Start by adding Lamar Advertising to your free and personalized watchlist so you can keep up on the latest news with the company.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

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A Fool since 2010, and a graduate from UC San Diego with a B.A. in Economics, Sean specializes in the healthcare sector and investment planning. You'll often find him writing about Obamacare, marijuana, drug and device development, Social Security, taxes, retirement issues and general macroeconomic topics of interest. Follow @TMFUltraLong